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California Insurance Commissioner Ricardo Lara named new leadership of the Insurance Diversity Task Force. The 15-member task force elected its newest chair to be Vikita Poindexter, CEO of Poindexter Consulting Group, and vice chair to be Dr. Fabiola Cobarrubias, CEO …

The U.S. Department of Labor (DOL) has reached an agreement with an Idaho grocery store requiring the employer to pay $250,833 in civil money penalties and $5,078 in back wages and damages—and take steps to ensure future compliance with federal …

The pathway to M&A activity/liquidity in the insurance brokerage industry traditionally has followed a common pattern: small to mid-sized brokers were either traded between financial sponsors or bolted onto a larger strategic partner with minimal friction. While these approaches have …

Philadelphia Insurance Companies said it has been able to restore limited network access as it continues to deal with a network outage that has affected operations since June 9. “Employees across the country are beginning to regain access to key …

Homeland Security Secretary Kristi Noem directed the Federal Emergency Management Agency to prepare a memo on how to abolish itself and create a re-branded, radically smaller disaster response organization, according to a copy of the document reviewed by Bloomberg News. …

War risk insurance premiums for shipments to Israel are as much as three times higher than a week ago as the war between Israel and Iran entered its fifth day, industry sources said on Tuesday. The cost of a seven-day …

Markel Insurance, the insurance operations within Markel Group Inc., appointed new leadership within its U.S. wholesale and specialty division. The company is simplifying its structure from six U.S. wholesale and two U.S. retail regions to four integrated U.S. regions. As …

Louisiana Governor Jeff Landry vetoed a bill last week that would have limited bad faith lawsuits against insurers, a move that raised criticism from the insurance industry. SB 111, sponsored by Sen. Alan Seabaugh, R-Many, intended to bring clarity to …

The US has spent nearly $1 trillion dollars on disaster recovery and other climate-related needs over the 12 months ending May 1, according to an analysis released Monday by Bloomberg Intelligence. That’s 3% of GDP that people likely would have …

An Atlanta family whose home was wrongly raided by the FBI will get a new day in court, the Supreme Court ruled unanimously on Thursday. The decision revives a lawsuit filed after a predawn 2017 raid in which armed members …

Within changes submitted by U.S. Senate Republicans to President Donald Trump’s tax bill is language that would close a tax “loophole” for third-party litigation funders. According to text released Monday by U.S. Senate Finance Committee Chairman Mike Crapo, R-Idaho, to …

A company that has spent years battling conservationists as it seeks a permit to mine outside the Okefenokee Swamp and its federally protected wildlife refuge needs to do just one thing before regulators make a final decision: set aside $2 …

B.P. Marsh and Partners Plc, the specialist private equity investor in early-stage financial services businesses, announced it has acquired a 27% shareholding in Cameron Specialty, a London-based underwriting agency. B.P. Marsh has agreed to provide funding of up to £1.7 …

The European Central Bank is embedding climate risk into regular reviews of how well banks can absorb losses, marking a new chapter in its supervisory approach. The intention is to “incorporate, more decisively and in a more business-as-usual way, climate …

Two giant ocean-going tankers collided and caught fire and two other ships were approached by Iranian boats near the Strait of Hormuz energy chokepoint, rattling global oil and shipping markets already on high alert. The Front Eagle, an 1,100-foot (335-meter) …

A climate ratings firm created at French business university EDHEC has become the first to estimate projected financial losses for thousands of infrastructure assets under various climate change scenarios, its founder and chief executive said. Better understanding the potential costs …

A Michigan lawmaker has proposed legislation that would mandate auto insurance premium reductions of at least 10% on any new or renewed policy, a bill that the American Property Casualty Insurance Association (APCIA) says would destabilize the state’s market. SB …

The Texas Department of Transportation said a compromise of an account led to a data breach of a large number of crash records. On May 12, TxDOT identified unusual activity in its Crash Records Information System (CRIS) originating from a …

Local officials warned more than half a million Iowans in the state’s capital city and suburbs on Thursday that near-record level of pollutants in its rivers could make drinking water dangerous if immediate steps are not taken to reduce demand. …

St. Louis Mayor Cara Spencer signed an executive order to waive a 25% holdback of insurance payouts for property damage claims related to the May 16 tornado that damaged at least 10,000 properties in the city. The order instructs the …